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Nifty

* Nifty ended almost unchanged in a volatile trading session, in continuation to the prevailing consolidation phase.

* Mixed trend was witnessed on the sectoral front. Auto and IT posted decent gains while realty, metal and pharma lost nearly a percent each.

* Misalignment among the key sectors and restricted participation capping the movement in index. Stay stock-specific.

* Expect volatility to remain high. F&O expiry, earnings and global cues would keep the participants on their toes.

Technical Chart : Intraday

BANKNIFTY

* Banking index traded under pressure after the initial uptick and ended marginally lower.

* Facing pressure on every uptick Important to hold short term moving average i.e. 20 EMA on the daily chart to keep the tone positive.

* Seeing mixed trend across the banking majors wherein the majority indicates consolidation or profit taking to continue.

* Prefer hedged positions instead of outrights especially for the overnight trades.

Technical Chart : Intraday

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